Orrstown Financial Services (NASDAQ:ORRF) Stock Price Passes Above Two Hundred Day Moving Average - Time to Sell?

Shares of Orrstown Financial Services Inc (NASDAQ:ORRF - Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.82 and traded as high as $34.03. Orrstown Financial Services shares last traded at $33.67, with a volume of 211,095 shares changing hands.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Keefe, Bruyette & Woods reduced their target price on Orrstown Financial Services from $40.00 to $37.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Hovde Group increased their price target on Orrstown Financial Services from $35.00 to $37.00 and gave the stock an "outperform" rating in a report on Wednesday, May 14th. Finally, Raymond James Financial assumed coverage on Orrstown Financial Services in a report on Thursday, April 10th. They set an "outperform" rating and a $35.00 price target for the company.

Orrstown Financial Services Stock Performance

The company's 50-day simple moving average is $30.84 and its 200 day simple moving average is $31.82. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.13. The stock has a market cap of $656.90 million, a P/E ratio of 17.18 and a beta of 0.79.

Orrstown Financial Services (NASDAQ:ORRF - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.05. The company had revenue of $60.39 million for the quarter, compared to analysts' expectations of $51.83 million. Orrstown Financial Services had a net margin of 9.74% and a return on equity of 14.35%. During the same quarter in the previous year, the firm posted $0.88 EPS. As a group, sell-side analysts expect that Orrstown Financial Services Inc will post 4.23 EPS for the current fiscal year.

Orrstown Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 13th. Investors of record on Tuesday, May 6th were issued a $0.26 dividend. The ex-dividend date was Tuesday, May 6th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.09%. Orrstown Financial Services's dividend payout ratio (DPR) is presently 53.06%.

Institutional Investors Weigh In On Orrstown Financial Services

A number of hedge funds have recently modified their holdings of ORRF. Jane Street Group LLC bought a new stake in Orrstown Financial Services during the 1st quarter valued at $1,080,000. Goldman Sachs Group Inc. raised its holdings in Orrstown Financial Services by 2.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 85,047 shares of the bank's stock valued at $2,552,000 after acquiring an additional 2,417 shares during the period. Millennium Management LLC raised its holdings in Orrstown Financial Services by 123.8% during the 1st quarter. Millennium Management LLC now owns 330,322 shares of the bank's stock valued at $9,913,000 after acquiring an additional 182,709 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Orrstown Financial Services by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,009 shares of the bank's stock valued at $330,000 after acquiring an additional 490 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in Orrstown Financial Services by 82.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 54,019 shares of the bank's stock valued at $1,621,000 after acquiring an additional 24,478 shares during the period. Institutional investors own 44.27% of the company's stock.

About Orrstown Financial Services

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.

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